Oil prices rise in early trade as US inflation cools
Brent crude futures rose 6 cents to $80.17 per barrel by 0004 GMT and U.S. West Texas Intermediate crude futures were up 4 cents, or $75.79.U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years. Markets expect one more interest rate rise, but oil traders hope that may be it because higher rates can slow economic growth and reduce oil demand.